AICPA Broadens Potential Membership

The American Institute of Certified Public Accountants voted, by about a 9-2 margin, to expand the pool of potential members by mildly relaxing requirements for membership. Potential applicants now can qualify for membership by being a licensed or inactive CPA and two new categories: a previously-licensed CPA who is no longer licensed for reasons other than behavioral sanctions (examples: retirement, health or financial crisis) and those who passed the exam, met educational and experience requirements but never applied for a license. AICPA Chairman Robert Harris said that a major reason for the change is that about half of CPAs no longer work in CPA firms.

An interesting change, to be sure--and one wonders if part of the reason for the change is to compete with an increasingly aggresive Institute of Management Accountants. Will be interesting to see to what degree these changes generate increases in membership.